Morocco’s domestic demand rose by 5.4% in the fourth quarter of 2024, driving overall economic growth, according to the latest data from Morocco’s statistics office (HCP).
The strong performance in domestic demand contributed 6.2 percentage points to overall Gross Domestic Product (GDP) growth during the quarter.
Household consumption remained robust, increasing by 3.2% year-over-year and contributing 2 percentage points to GDP growth.
The momentum persisted despite challenges such as reduced rural-based income caused by prolonged drought. Key factors that supported purchasing power included stabilized prices—with some exceptions in food products—rising public sector wages, enhanced social transfers, and a rebound in consumer credit.
The upswing in household spending drove a significant rise in imports of consumer goods, particularly automobiles, which soared by 58.1% by the end of 2024.
Public sector consumption also accelerated, climbing 3.9% compared to 3.8% in the prior quarter.
Meanwhile, investment sustained strong momentum, growing 9.8% annually. Public investment played a key role, fueled by major projects such as water management infrastructure and preparations for two high-profile sporting events: the 2025 Africa Cup of Nations (AFCON) and the 2030 FIFA World Cup.